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Audi backs profit guidance as record car sales boost Q3 earnings

German luxury carmaker Audi increased third-quarter operating profit 5.5 per cent on record deliveries and backed its full-year profit and sales guidance.

PHOTO: REUTERS

[BERLIN] German luxury carmaker Audi increased third-quarter operating profit 5.5 per cent on record deliveries and backed its full-year profit and sales guidance.

Underlying earnings at Volkswagen's flagship division rose to 1.16 billion euros (US$1.45 billion) from 1.10 billion a year earlier while sales were up 7.5 per cent to 12.6 billion, Audi said on Monday.

The carmaker stood by its full-year guidance for an operating profit margin of between 8 per cent and 10 per cent and for sales to exceed 50 billion euros.